President Lee pledges full support for 392 trillion won in advanced industry investments in Chungcheong region

President Lee Jae-myung declared on Tuesday that the government would mobilize "all available means" to support advanced industry investments in the Chungcheong region, a move that promises to reshape the area into a hub for cutting-edge technology.

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We will never miss this significant opportunity to align the hubs of balanced development and advanced industries. The government will mobilize all available means to actively support the companies' decisions so they can shine.

During a public forum in Asan, South Chungcheong Province, Lee highlighted the substantial investments announced by major corporations, including Samsung, SK Hynix, and Celltrion, which collectively amount to 392 trillion won. These investments are slated for facilities such as high-bandwidth memory (HBM) fabrication plants, advanced packaging facilities, and biopharmaceutical production sites. The event, following a similar forum in Gwangju for the Honam semiconductor cluster, underscores the administration's focus on regional development and industrial growth.

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It is the role of the government and politicians to make companies think, 'It is better to invest in this region because our interests align.' You should not approach it by thinking, 'Why aren't we being helped?' and getting angry.

Lee directly addressed criticisms from opposition parties, who have labeled the "3 mega-projects" as discriminatory and indicative of "state-controlled" investment. He firmly rejected these assertions, arguing that a "divisive approach" is counterproductive. "It is the role of the government and politicians to ensure that companies find it beneficial to invest in these regions," Lee stated, adding that demanding preferential treatment without such efforts is misguided.

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In this day and age, do companies relocate simply because of pressure? Do you think investment can be attracted with such outdated thinking as pressuring Lee Jae-yong, chairman of Samsung? It is impossible.

He particularly rebuked the notion that his administration coerced companies into these investments. "In this day and age, do companies relocate simply because of pressure?" he questioned, dismissing the idea that he pressured Samsung's Lee Jae-yong as "outdated thinking." Lee emphasized that such tactics are ineffective and that fostering an environment where investments align with corporate interests is key. He reiterated his vision of transforming the entire nation into a "Korean-style Silicon Valley" through these projects, framing it not as a handout to the regions, but as essential for South Korea's success in the Fourth Industrial Revolution.

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With the 3 mega-projects, we will make the entire national territory a Korean-style Silicon Valley. This is not a handout to the regions, but the only way for South Korea to be the ultimate winner of the Fourth Industrial Revolution.